Securitize Cuts Out Stablecoin Middlemen in Deal With Anchorage Digital Bank
Photo: Unchained
Securitize now creates and redeems stablecoins directly with Anchorage Digital Bank, N.A. , the two companies announced on Tuesday. Anchorage described the arrangement as an alternative to obtaining the tokens through intermediaries. Under the setup, the bank issues the tokens, keeps them in custody and settles the transactions. Securitize said in an X post that the structure means “one federally chartered bank handles the mint-to-redemption process.” The announcement did not say which of the bank’s stablecoins Securitize uses. Anchorage’s issuance business includes USDtb , launched with Ethena Labs, and USA₮ , developed with Tether, according to the release.
Source: Unchained
